A STUDY OF EMPLOYEE RETENTION IN ITeS INDUSTRY: A CASE OF NORTH INDIA GAGANDEEP SHARMA MANDEEP MAHENDRU SANJEET SINGH

ABSTRACTThe retention of knowledge worker has become extremely critical for the success of a business organization in the present scenario especially in the service sector with lot of people interface. HR department has to play a key role in designing the policies, practices and strategies, which can enable an organization to retain the human resources contributing significantly to the business. The present study examines the phenomenon of Employee Retention in the ITeS sector in the Tri-City of Chandigarh, Mohali and Panchkula in order to develop appropriate strategies, which can help the organizations in this sector to retain their valuable talent. The major objectives of the research are to study: employee retention strategies followed in the ITeS industry in the Tri-city of Chandigarh, Mohali and Panchkula; significance of select HR practices in the attainment of job satisfaction amongst the employees of the industry; extent of employee attrition prevalent; significance of individual, organizational and industry related factors in determining employee retention; correlation between job satisfaction and employee retention; prevalence of Talent Management System and identify different strategies adopted to reduce the monotony of work for the executive positions. The t-test, chi square test and correlation test is used for evaluation of the data. Keywords: Employee Retention, ITeS sector, Job satisfaction, Employee attrition, T-test, Chi square test.

1. INTRODUCTIONThe competencies and skills of knowledge worker have become extremely vital competitive advantage in the present day business scenario. All the professionally managed organizations make an all-out attempt to acquire, retain and develop the talent pool that they encompass. Importance of human resources has increased manifold, firstly because of their scarce availability and secondly due to an increasing demand by the growing number of business units seeking quality talent. In this context the ability of an organization to keep hold of its vital and skilled manpower becomes extremely critical. HR department has to play a key role in designing the policies and practices which can enable an organization to retain the human resources contributing significantly to the business.

1.1 EMPLOYEE RETENTION

Electronic copy available at: http://ssrn.com/abstract=1827482

Employee Retention refers to retaining the employee in the company. This is done either directly or indirectly in the company. An employee can be directly retained when a company signs a legal Bond with the employees for a certain period of time. This might reduce the attrition rate to an extent but increases the Recruiting rate of keeping the position vacant for a long time. “Employee Retention involves taking measures to encourage employees to remain in the organization for the maximum period of time.” “Employee retention is a systematic effort by employers to create & foster an environment that encourages current employees to remain employed by having policies &practices in place that address their diverse needs. “Retention is the process for members or volunteers remain active with the organization. Retention is not a particularly formal process. Instead it focuses on maintaining a welcome environment, member morale, and...

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